Tungsten Powder Prices Surge, CNC Tool Brands Announce Price Hikes Across the Board
As of April 2026, tungsten powder prices have skyrocketed from around RMB 316/kg in early 2025 to RMB 2,330–2,380/kg, representing an increase of over 600% and hitting an all-time high. As the core raw material for cemented carbide tools, the explosive rise in tungsten prices has triggered a chain reaction across the entire industrial chain. Major domestic brands including Zhuzhou Diamond, Huarui Precision, Okeyi, Xinrui Co., Ltd. and others have successively issued price adjustment notices, with price increases covering nearly all product lines and delivery times widely extended.
1. Tungsten Prices Surge to Historic Highs Driven by Supply-Demand Imbalance
The current rally is not a short-term fluctuation, but a result of multiple factors including supply contraction, surging demand and strengthened policy controls.
• Supply-side tightening
China is the world's leading supplier of tungsten resources. In 2025, the national tungsten concentrate mining quota was cut by 6.5% year-on-year. Stricter environmental inspections have further suppressed illegal production, while upgraded export controls reduced tungsten product exports by 27.5%. Overseas mines face slow expansion and low ore grades, leaving a global supply shortfall.
• Strong downstream demand
CNC tools account for more than 50% of total tungsten consumption. Demand from photovoltaics, semiconductors and new energy vehicles has further boosted consumption, worsening the supply shortage.
• Sharp price uptrend
Since early 2025, tungsten concentrate has risen from RMB 143,000/ton to over RMB 1 million/ton. Tungsten powder and tungsten carbide powder have both surged by more than 550%, completely squeezing profit margins in the tool industry.
2. CNC Tool Brands Raise Prices Universally by 10%–30%
With raw material costs surging to over 80% of total production costs, leading manufacturers have announced successive price hikes since February 2026:
• Zhuzhou Diamond: Price increase on inserts and solid carbide tools effective March 1
• Huarui Precision: Fourth price adjustment in 2026, citing a 379% rise in tungsten carbide powder
• Xinrui Co., Ltd.: New pricing system implemented starting February 26
• Okeyi, Winsmith, Walder and others: Additional increases scheduled for March to May
Key characteristics of the price adjustments:
• Increases generally range from 10% to 30%, with higher rises for high-end products
• Multiple rounds of adjustments within a single year
• Extended lead times from 1–2 weeks to 1–3 months for standard items, and over 3 months for premium products
3. Industry Impact: Cost Pressure, Restructuring and Customer Strategy
The continuous surge in raw material costs has forced the whole CNC cutting tool industry into a new cycle of price increases. End users are advised to arrange stocking plans rationally, control production costs, and communicate with suppliers in advance to ensure stable supply
